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Which of the following describes a situation in which a shortage occurs?

  • Question 3a of 10 - Supply and demand

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 2
  • Question: Which of the following describes a situation in which a shortage occurs?
  • Answers:
  1. Consumers want more video-game systems than the company can make.
  2. There is inefficiency in the productive process used to make cell phones.
  3. A computer company tries to charge too high a price for a new laptop computer.
  4. A clothing store puts sweaters on sale to get rid of them before the end of winter.

The correct answer is: Consumers want more video game systems than the company can make. A shortage occurs when demand exceeds supply.

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